Can you invest in Airbnbs remotely?

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What's up guys? It's James here. And in today's video, we're going to answer the age old question the question that maybe isn't age old, but I get asked a whole lot, which is, can I invest in Airbnb and short term rental properties remotely? Can I do it out of state? Can I do in different country? Or do I need to buy properties close to where I live? I'm going to answer that question for you in today's video. And I also want to remind you that down in the description below, there's a link, you can click to schedule a quick 15 minute call with me.

Now, if you are interested in investing in properties for short term rental, then just go ahead and click that link down below. for a very limited time, we've got a few seats open in our private mentorship program, we're going to be working with students directly showing them exactly how to invest in short term rental properties.

Now, this is a step by step system that we're going to walk you through over a six month private mentorship program. This is only for a select few people. So really, it's only for you, if you're serious about investing in short term rentals, then you'll just want to go ahead and click the link down below in the description and schedule a quick chat with me. So again, go ahead and click that link down below if you do want to invest in short term rental properties. And we want to work with us for six months to have us guide you through exactly how to do that.

Now, let's dive into the main topic for the video. Can you invest in properties remotely? And my answer is a resounding yes. And even more so that you actually should invest in properties remotely, you should not be focusing right in your backyard. For most people, in most cases, you want to actually buying properties remotely. And I'll walk you through why.

So first off, how before we talk about the why let's talk about the house because I know that's the big question that's on a lot of people's minds is how can I possibly do this remotely? Don't I need to be the one they're managing everything from buying the property to renovating it to managing ongoingly a lot of people have misconceptions thinking that they actually need to be the one on the ground, they're either overseeing it or doing the legwork themselves. The reality is, that's how you be an operator and operators do not make a lot of money.

That's what you do when you have a job, you're going to actually do it. But you have to put your investor hat on, look at yourself as an investor. You know, if you think about Warren Buffett, one of the most successful investors of all time, you know, he's famous for buying all these shares in Coca Cola, but you don't see him going out and selling Coca Cola at the street corner, he is an investor, he's buying an asset and that asset is producing a return for him, he's not working for that money, his money is working for him. And so we need to think about our investing this the exact same way. You don't want to be working for your money, you want to be having your money work for you and produce a return.

So when you go buy this property, you want to be focusing on buying a property and leveraging yourself. So you want to go and find other people to do the renovation work as much as possible. And so if you do that, if you find the right property, the right asset to invest in the right company, if you're looking at it from an investor's standpoint, more traditional way, well, then they have the right team, they have the right margin, you've got enough space where you can hire people to go and do the renovation work.

Personally, I would never buy a property where in order to make the numbers make sense, I had to do the renovation work myself, that would be crazy. That would be another job for me who wants that I'm in this to make passive income, I want to have an investment that's making money for me. So I go and buy properties where I have plenty of opportunity playing upside potential, where I can hire people to go in and do the renovation work.

Now you don't need to oversee it by being there in person technology has allowed us to be able to manage and oversee a project from millions of miles away if we want to do that. So we can then have a property gate being totally renovated. Without us being there as long as we find the right property and we have the right know how to find the right people for the jobs and make sure they're not getting hosed on the price of these renovations.

That's the renovation side of it. And then let's talk about the actual management side of it. for managing you want to have team members in place the same way that you would outsource your renovation work.

So you're not going to be the one going by and doing the cleaning, you're not gonna be going by and doing the maintenance. And because the numbers are just so astronomically high with short term rental, you've got plenty of margin to do all this and outsource it to other people. For example, Airbnb, you charge a cleaning fee, when you're listing your property on Airbnb, vrbo, any of these other property listing platforms, you're going to charge your guests a cleaning fee, they're paying that cleaning fee, and that's gonna pay for the cleaners to go by and clean and turnover the property.

So you want to kind of think about it from that method of Hey, I'm going to be outsourcing all this now you can go there really easy, you know, scalable route of Hey, I'm just going to hand this off to a property manager. And a good property manager is going to take care of absolutely everything from you. You're you're going to hear from them once a month with your financial statement.

And that's going to be it. You are going to pay for that but you can make sure that you find a property that has the margins to support that so you still make a really good return and it's a Incredibly passive, or you can also go the route of building the systems yourself to be able to have a team taking care of everything and not while you're also going to get an even better return on your investment. There's a couple of different ways to go about this.

So again, if you want to learn the exact steps that we use for how to do this, then let me know in the by clicking the link in the description down below schedule a quick 15 minute chat with me and we can talk more about the actual how we execute on that. And I can help you to go through and set that up for yourself and start investing the short term rental properties remotely.

But now let's talk about the why why do you want to invest in short term rental properties remotely as opposed to in your backyard, and why they start this video by telling you that I recommend that people that most people invest remotely?

Well, it's because when you invest there, it's really not about how much money you make, it's more so about how much money you keep. And depending on where you invest, you're going to be able to keep a lot more of your money. The other thing is that you also are going to have different restrictions and regulations. So let's walk through a couple of these different scenarios.

Now, some areas are going to have higher taxes than other areas if you're investing in the US, and certain states have different higher or lower state income taxes. So if you have the option to invest in an area that has a really low income tax, that means you're going to be able to keep more of your money. So it gives you an initial leg up on investing in properties in that area. So that is one point for investing remotely if you happen to live in a place where the income tax is high on a state level. And again, this can be applied to any country, any different region of the world, you can choose to invest in other countries even to again, minimize the tax burden.

Now let's look at regulations, regulations are going to vary from place to place. And you certainly don't want to be investing in an area that's going to be more challenging than it needs to be. So if you have the options, why not go and invest in an area that has a really low income tax for you.

So you're going to keep more of your money. And that has really favorable regulations to Airbnb, so that you're going to have an easier time as possible managing these properties. There's a whole bunch of other reasons I could outline as to why remote management remote investing actually makes a ton of sense. But those are the main two that I think is the main primary reason why most people should be looking to invest remotely as opposed to locally right in the say that they happen to be in.

So again, if you want to learn the strategies for exactly how to buy properties for short term rental, how to invest in them, get a great return and build your portfolio short term rental properties, then just click the link down below in the description schedule a quick 15 minute chat with me, I'd love to talk to you more. We can even talk about what the best markets are what some of the best opportunities are out there.

If you want to get started and you want to build a successful short term rental investing portfolio then go ahead and click that link in the description below. And we might be able to work with you in our private mentorship program and talk you through the entire system step by step by step to help you get that first property within the next six months and get it up and running.

So again, I hope you like this video hope you got value from it. If you did smash that like button give me a thumbs up on the video it does help me out tremendously with YouTube's algorithm. Also, if you haven't yet done so and you're crazy enough that you haven't subscribed to the channel then make sure that you click that subscribe button so you stay up to date with all the new videos are released twice every single week. And with all that said, I will see you next video.